Posts by Michael Saulnier
SECURE 2.0 Act is Now Law: Here’s a Breakdown of the Most Notable Provisions Set to Enhance How American’s Save for Retirement
Updated 3/14/23: This article has been updated to change the required minimum distribution ages in accordance to IRS Notice 2023-23. At a glance Schedule a complimentary plan review with our Retirement Plan Services team today. The full story: Congress made big moves before breaking for the holidays with the passing of the SECURE 2.0 Act. The…
Read More6 Important Provisions of the SECURE 2.0 Act
At a glance Schedule a complimentary plan review with our Retirement Plan Services team today. The full story: The SECURE 2.0 Act has been on Aprio’s radar since last spring when we wrote about its potential provisions. Now, as we head into the end of 2022, it’s looking like the Act will become law, and with…
Read MoreThe Supreme Court Reverses the Ruling of the Employee Retirement Plan Lawsuit Against Northwestern University
At a glance The main takeaway: The Supreme Court reversed the dismissal of the employee-led lawsuit against Northwestern University reaffirming the duties of a retirement plan sponsor. Impact on your business: It’s crucial for any company that offers a retirement plan to employees to establish a written process that outlines how they monitor funds…
Read MoreSECURE Act 2.0 Could Deliver a Major Overhaul to Retirement Savings Plans
At a glance The main takeaway: The Securing a Strong Retirement Act, also known as SECURE Act 2.0, could potentially lead to substantial changes to retirement savings and investment. Impact on your business: If passed, SECURE Act 2.0 would offer significant benefits to help employees save more and incentivizes employers to improve their retirement plans.…
Read MoreHow a Top Furniture Business Found a New Bank on the Path to Growth
At a glance The main takeaway: When managing rapid growth, some businesses may need extra services and support than their existing bank can offer, leaving them searching for a new institution that can step in to help. Impact on your business: Bank relationships are important to strategic, successful growth. Finding an institution that can meet…
Read MoreTop Tech Company Retirement Plan Options That Attract Top Talent
Attracting and retaining top talent is a ubiquitous challenge for tech companies and startups, an industry where competition is fierce and cash flow may be limited. In light of these challenges, businesses in the technology industry often look for creative solutions to further boost their compensation packages. We previously discussed the value of equity incentives…
Read MoreIRS Issues New Relief and Guidance for CARES Act Retirement Plan Provisions
On June 19, 2020, the Internal Revenue Service (IRS) issued Notice 2020-50 which helps individuals affected by COVID-19 take advantage of CARES Act provisions allowing access to retirement accounts via distributions and loans. The Notice broadens the definition of a Qualified Individual for purposes of Coronavirus Related Distributions (CRDs) and enhanced loan provisions. The definition…
Read MoreThe SECURE Act Passed – What does it mean for you?
By Michael Saulnier, Director, Retirment Plan Services On Dec. 20, 2019, President Trump signed a new Act into law that aims to expand and strengthen retirement solutions for workers across the country. This new legislation called the SECURE Act (an acronym for “Setting Every Community Up for Retirement Enhancement”), triggers significant changes for both existing…
Read MoreRetail Franchise and Hospitality Overview
Spending Bill Extends Tax Breaks, Adds Retirement Account Provisions
With its winter recess looming before it, Congress has engaged in a flurry of activity. Most notably, it reached agreement on a massive governmentwide spending package titled the Further Consolidated Appropriations Act, 2020. The legislation extends certain income tax provisions that had expired, as well as some that were due to expire at the end…
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